India's Swiggy logs wider first-quarter loss

FILE PHOTO: A man walks past the logo of Swiggy Limited at a press conference during which its forthcoming Initial Public Offering (IPO) was announced in Mumbai, India, October 30, 2024. REUTERS/Francis Mascarenhas/File photo

(Reuters) -Indian food delivery giant Swiggy posted a wider first-quarter loss on Thursday, as rising investments in its quick-commerce arm, Instamart, continued to weigh.

Its consolidated net loss widened to 11.97 billion rupees ($136.68 million) for the quarter ended June 30, from a loss of 6.11 billion rupees a year ago.